Bill-Ins, 114csr40
H. B. 4218

(By Delegates Mahan, R. Thompson, Cann,
Kominar, Armstead and Faircloth)

[Introduced January 30, 2004; referred to
the Committee on Banking and Insurance then the Judiciary
.]

A BILL to amend and reenact article 7, chapter 64 of the code of West Virginia, 1931, as amended, relating to authorizing the insurance commissioner to promulgate a legislative rule relating to credit for reinsurance.

Be it enacted by the Legislature of West Virginia:
That article 7, chapter 64 of the code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:

ARTICLE 7. AUTHORIZATION FOR DEPARTMENT OF TAX AND REVENUE TO PROMULGATE LEGISLATIVE RULES.

§64-7-1. Insurance commissioner.
The legislative rule filed in the state register on the twenty-ninth day of July, two thousand three, authorized under the authority of section ten, article two, chapter thirty-three, of this code, modified by the insurance commissioner to meet the objections of the legislative rule-making review committee and refiled in the state register on the twenty-third day of January, two thousand four, relating to the insurance commissioner (credit for reinsurance, 114 CSR 40), is authorized.

NOTE: The purpose of this bill is to authorize the Insurance Commissioner to promulgate a legislative rule relating to Credit for Reinsurance.

This section is new; therefore, strike-throughs and underscoring have been omitted.